The Albania Ministry of Infrastructure and Energy has signed an MoU with the US construction company, Bechtel, for the construction of the Skavica hydropower plant.
The parties have agreed to prepare an action plan for the installation of hydroplant which is estimated to cost between EUR 308 million to EUR 510 million and have a capacity of the 210 MW.
The Memorandum recognizes Bechtel for its unique and diverse experience in designing and implementing innovative engineering solutions as well as highlights the funding needed for completion of such a complex project, so far not implemented in Albania.
Through this Memorandum, both parties agree to work together throughout the whole stages of the process and jointly find solutions that are in the best interest to the nation.
This MoU came as a result of the signed Memorandum of Economic Cooperation for Projects and Purchases between the Albanian Government and the US Government, the Minister of Infrastructure and Energy, Belinda Balluku and the representative of Bechtel, Justin Siberell, President of Europe and Middle East Region, in the presence of Prime Minister Edi Rama and the Undersecretary of the United States of America for Economic Development, Energy and Environment, Keith Krach.
The construction of HPP Skavica is a major project with an impact not only on the electricity system but also on the national economy of the country. This project will ensure the optimization of the Drini Cascade, as well as increase the safety and efficiency of the existing hydropower plant.
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